While the company is taking steps to mitigate the effects of the Trump Administration’s tariffs on Chinese imports, it warned that those tariffs would have a $6-9 million impact on full-year profits. Net income in the first fiscal quarter ended Dec. 28 included $0.7 million in tariffs, coming in at $3,521,000 against $235,000 in profit last year despite 10% lower revenues at $104,440,000 vs. $116,579,000. The bottom line last year included a $6.4 million charge for revaluation of a deferred tax asset. Overall gross margin expanded 60 basis points to 42.4%, and SG&A deleveraged 90 b.p. to 36.7% on the ... Log in to view full article.